The Reserve Rate Will Be Further Raised By &Nbsp; The Short-Term Adjustment Pressure Will Be Reduced.

Yesterday, the central bank announced that the deposit reserve ratio increased by 0.5 percentage points since November 16th. It is estimated that the reserve requirement rate will recover about 300 billion yuan.

We believe that this central bank's action to raise the deposit reserve ratio is undoubtedly an early reflection of the October CPI data to be released on Thursday.

It is widely believed that the data will exceed 4% for the first time, and will exceed 3% throughout the year.

From last month's central bank's interest rate hike before the announcement of the data, the management's tendency to curb inflation has been formed. It is expected that the central bank will raise interest rates again in the year, especially at the end of December.

Compared with raising interest rates, it is difficult to change the market price system, especially the reality of negative interest rates for residents, even though it may recover liquidity. This is also the frustration of the central bank under the pressure of RMB appreciation.

After this increase, the deposit reserve ratio has reached a historical high level, and the space for continued use is getting smaller and smaller.

But after raising the deposit reserve rate this month, the possibility of raising interest rates this month is not large.

Therefore, the market has continued to oscillate for 2 trading days before data release.

In terms of technology, the Shanghai composite index was lower after yesterday's low opening, and the pressure of market adjustment appeared.

However, the Shanghai stock index has left a longer shadow line on the Japanese line, and it has recovered rapidly near the 10 day moving average, and the characteristics of the strong adjustment are still more obvious.

At present, the stock index has maintained a good shape, and the volume has continued to maintain high operation. There are more than 20 stocks daily trading, which will make it difficult for the market to have a large scale adjustment.

The Shanghai and Shenzhen 300 (3499.111, -24.84, -0.70%) index closed at 3499 yesterday, and is expected to move up again early next week after a short-term adjustment.

In the morning news, the US stocks rose overnight. In the domestic sector, the National Bureau of statistics will announce the October macroeconomic data today. It is widely expected that CPI will continue to rise in October.

Zhou Wangjun, deputy director of the national development and Reform Commission, said yesterday that the NDRC will take a series of measures to control the excessive price rise.

First, we need to develop production, and the key is to develop agricultural production.

The two is to ensure supply, the three is to give appropriate subsidies to low-income groups, four is to take some macro measures, five is to take measures from the perspective of fiscal and monetary policies, and use monetary and fiscal policies to control them.

The integrated planning of industrial layout in the Pearl River Delta region (2010-2020 years) has been launched in Guangdong province. It will bring about five major projects involving integration, involving 150 projects of four major projects, including pportation, energy, water conservancy and informatization, with a total investment of 19767 billion yuan, of which 938 billion 700 million yuan is invested in the 2009-2012 year plan.

On the strategy of operation, the market is highly volatile and adjusted, and appropriate high band operation should be carried out, focusing on the benefit of inflation and the appreciation of RMB appreciation.